LABOR MANUFACTURING FAILURE CONFIRMED
03-October-2011
Another chapter in Labor’s story of industry policy chaos has been written today with the release of new figures pointing to another record-breaking contraction in Australian manufacturing activity.
Today’s AiG-PwC Performance of Manufacturing Index data for the month of September shows a sixth decline in the past seven months, and a 27th drop in manufacturing activity in the space of just 40 months.
Even on the heels of 13 expansions in the Howard Government’s final 14 months, there have now been contractions in manufacturing activity for 60% of Labor’s period in office.
This is easily the worst record under any Government in the history of the Index, and is yet another indicator of Labor’s policy impotence amid the worst crisis in manufacturing in Australia since the Great Depression.
“The only response from Julia Gillard and Kim Carr to the crisis gathering around Australian industry is to introduce a carbon tax and stage a single-day talk session in Canberra,” said Shadow Industry Minister Sophie Mirabella.
“What they should be doing is going back to the drawing board, and urgently revisiting policies and programs that have completely failed.
“Mr Carr consistently boasts about having splurged billions of dollars in his time as a Minister, but the humiliating reality is that there isn’t a single notable industry policy achievement to which he can point.
“His record is one of devastating failure, with more than 136,000 manufacturing jobs surrendered under his watch – at the extraordinary average of one every four minutes during the past quarter.
“Regrettably, a bad situation is now becoming even more desperate.”